Analysts/Institutional Investor Meet/Con. Call Updates

R Aditya Vision Limited R November 05, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai-400001 Mumbai- 400051 Scrip Code: 540205 Symbol-AVL Sub: Transcript of Analysts/Investors Call pertaining to the Unaudited Financial Results for the quarter and half year ended September 30, 2026 Dear Sir(s) Please find attached herewith a copy of the transcript of the Analysts/Investors Call on the Unaudited Financial Results of the Company “Aditya Vision Limited” for the quarter and half year ended September 30, 2026 held on Friday, October 30, 2026. The same is also being made available on the Company’s website at: www.adityavision.in. This is for your information and record. Yours faithfully For Aditya Vision Limited Akanksha Arya Company Secretary “Aditya Vision Limited Q2 FY '27 Earnings Conference Call” October 30, 2026 MANAGEMENT: MR. YASHOVARDHAN SINHA – CHAIRMAN & MANAGING DIRECTOR, ADITYA VISION LIMITED MRS. YOSHAM VARDHAN – WHOLE-TIME DIRECTOR, ADITYA VISION LIMITED MODERATOR: MR. RAHUL DANI – MONARCH NETWORTH CAPITAL LIMITED Page 1 of 9 Aditya Vision Limited October 30, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q2 and H1 FY 2027 Earnings Conference Call of Aditya Vision Limited, hosted by Monarch Networth Capital Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touch- tone phone. I now hand the conference over to Mr. Rahul Dani from Monarch Networth Capital Limited. Thank you, and over to you, sir. Rahul Dani: Yes, thank you, Rutuja. Good afternoon, everyone. On behalf of Monarch Networth Capital, it's our pleasure to host Aditya Vision's Management. We have with us today Mr. Yashovardhan Sinha – Chairman and Managing Director, and Ms. Yosham Vardhan – Whole-Time Director. I will now hand over the call to the Management for opening remarks, and then we move to Q&A. Thank you, and over to you, sir. Yashovardhan Sinha: Thank you, Rahul. Good evening, ladies and gentlemen, and a very warm welcome to Aditya Vision's Q2 and H1 FY 2027 Earnings Conference Call. Before we begin, I would like to extend my warmest wishes to all of you and your families on the occasion of Diwali. May the festival bring happiness, peace, prosperity, and good health to everyone. I am pleased to share that Aditya Vision has delivered its best-ever Q2 performance, with revenue growing 28% year-on-year to Rs. 586 crores. This reflects the resilience of our business model, the strength of our customer franchise, and our continued focus on execution. For H1 FY 2027, revenue grew 27% year-on-year to Rs. 1,779 crores, keeping us ahead of our long-term revenue growth aspiration of between 20%-25%. The quarter witnessed several headwinds impacting discretionary spending, driven by the prolonged West Asia crisis, disruptions in energy supplies, and a sharp rise in global crude oil prices. These developments heightened inflationary concerns and put pressure on central banks to consider interest rate hikes after an extended period of stability. The situation was further compounded by flood and cyclone-related disruptions in Bihar, alongside rising prices of essential staples and cooking gas amid the ongoing conflict, placing additional pressure on household budgets and dampening consumer sentiment. Despite these challenging operating conditions, we demonstrated resilience and delivered a strong performance, with EBITDA growing by 32% and translating into an impressive 45% Page 2 of 9 Aditya Vision Limited October 30, 2026 growth in profit after tax in Q2 FY 2027. Notably, H1 FY 2027 PAT has already reached over 90% of the entire PAT reported in FY 2025, reflecting the strength of our operating performance and sustained profitability momentum. For H1 FY 2027, EBITDA grew by 37%, with EBITDA margin expanding to 9.6%. Profit after tax increased by 41%, with PAT margin improving to 5.4%, reflecting healthy earnings growth and improving profitability. While consumer demand has moderated somewhat, underlying demand remained resilient across our markets. Same-store sales growth for H1 FY 2027 stood at 18%, compared to just 2% in H1 FY 2026, when unseasonal rains impacted customer footfalls and sales. Our consistent high double-digit SSSG reflects sustained customer traction and continued growth across our established markets, supported by deeper penetration and improving store productivity. Our expansion strategy combines deeper penetration in existing markets with entry into new geographies. As of September 30, 2026, our network comprised 214 stores, compared with 188 a year earlier. Our retail footprint expanded by 18.3% to approximately 9.51 lakh square feet. During this calendar year 2026, we have entered three new states – Chhattisgarh, Madhya Pradesh, and West Bengal. As of yesterday, we have made our entry into West Bengal and Madhya Pradesh, opening up additional growth opportunities. We continue to follow a cluster- based expansion strategy, leveraging our logistics infrastructure, vendor relationships, and brand recall to support efficient store ramp-up. Our focus remains on building productive outlets that contribute sustainably as they mature. Alongside expansion, we remain focused on inventory availability and working capital discipline. As of September 30, 2026, inventory stood at Rs. 865 crores compared with Rs. 840 crores at the end of March 2026. This reflects stocking ahead of the festive season and competitive pricing due to anticipated price increases across consumer durables. Borrowings stood at Rs. 293 crores at the end of September 2026, down from Rs. 331 crores at the end of March 2026. However, borrowings were higher year-on-year, reflecting funding requirements associated with inventory, new stores, and business growth. We see a significant long-term opportunity in India's consumer durables market, particularly across the heartland, where rising disposable incomes, increasing financing penetration, and the shift towards organized retail create substantial headroom for growth. Our immediate focus remains on ensuring strong product availability, meeting customer demand efficiently, and staying competitive while continuing to improve store productivity and maintain disciplined inventory management and cost control. When I look at where we stand today, what gives me confidence is that we are not just expanding our footprint; we are building a more resilient business and reaching a wider set of markets with Page 3 of 9 Aditya Vision Limited October 30, 2026 significant populations and rising purchasing power. Our vision now extends well beyond our established strongholds towards capturing the immense potential of these under-penetrated geographies. Backed by disciplined execution, strong regional understanding, and a customer- first mindset, we believe we are well-positioned to capture this opportunity and deliver consistent, sustainable growth over the medium to long term. With that, I would like to hand over the floor to Mrs. Yosham Vardhan to take you through the financial highlights in greater detail. Thank you. Yosham Vardhan: Thank you, sir. Good evening, everyone. We are pleased to present the financial performance for Q2 FY 2027 and H1 FY 2027. For Q2 FY 2027, revenue increased by 28.1% year-on-year to Rs. 586.23 crores. Gross profit grew by 38.8% to Rs. 95.59 crores, with gross margin expanding by 125 bps to 16.3%. EBITDA increased by 31.6% to Rs. 45.65 crores, with EBITDA margin improving by 21 bps to 7.8%. Profit before tax grew by 45.3% to Rs. 24.26 crores, while profit after tax increased by 45.2% to Rs. 18.47 crores. PAT margin improved by 37 bps to 3.2%. Same-store sales growth for the quarter stoo [Showing first 8,000 characters — download PDF for full document]